LandGate Corp., a Denver, CO-based marketplace and data provider for commercial land and its resources including solar, wind, minerals, water, and carbon offsets, raised $10m in Series B funding.
The round was led by a subsidiary of NextEra Energy Resources, LLC, with participation from Kimmeridge.
The company intends to use the funds to enhance its product suite, with a particular focus on solutions catering to financial institutions, to expand its marketing and sales efforts to increase market penetration across the country.
Led by CEO and Co-Founder Yoann Hispa, LandGate is a provider of information, data solutions, and an online marketplace for US commercial land and its resources: solar, wind, carbon, minerals, and water. The company allows developers, investors, real estate agents, and landowners understand energy and environmental resource values and connect on its online marketplace for everything land-related. The platform applies its technology to provide leads, data, analytics, and web applications to substantially reduce costs and accelerate land transactions.
With its data solutions and web applications, developers, investors, and real estate professionals can (1) run economic engineering studies in minutes, (2) access land leads and MLS listings, and (3) manage their leads in a land CRM web app connecting their team and Salesforce.
LandGate is now launching a new dashboard, targeted specifically at the capital markets user base. The interface will generate metrics for investors who are assessing the projected performance of large energy and resource asset portfolios and present them with projected production, cash flow, and company net asset valuations (NAVs) updated live with new farm activity or electricity pricing data. Traders and insurers can compare the future quarterly cash flows of renewable energy operators and risk them to weather catastrophes.
In addition to helping accurately value and assess different land uses in seconds, the platform also connects developers and investors to leads on its online marketplace for all land-related transactions, including land sales, renewable royalty sales, carbon offsets, and land resource leases.
As of the first quarter of 2022, LandGate had already facilitated over $300 million of land resource deals nationwide across transactions for the development of solar, wind, carbon, minerals, mining, electric vehicle (EV) charging and water resources. By the end of the year, over 60% of all the land real estate agents in the U.S. will be using LandGate’s land analytics, which help them transact on energy and environmental deals and access corporate buyers.
With the completion of this funding round, LandGate has raised a total of $19 million in debt and equity.